HIGHER EXCHANGE
MAJORITY MUST SUFFER
WELLINGTON CHAMBER’S VIEWS (Per Press Association) WELLINGTON, Last Night. The Government’s action in pegging the rate of exchange was discussed in committee by the council of the ’Wellington Chamber of Commerce to-night, and the following resolution of protest was carried: ‘‘That tho council of the Wellington Chamber of Commerce emphatically condemns the action of the Government in violating established banking pratices by causing the rate of exchange to be artificially pegged: that this action must inevitably create greater evils than the present action is calculated to overcome, and that in the meantime the majority must suffer for the benefit of the minority.” Mr Stronach Paterson, in seconding, remarked that Government, interference was always cumulative, necessitating further interference. Ho instanced the mortgage relief legislation, and said that further interference would again be necessary in the raising of the rate of exchange.
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https://paperspast.natlib.govt.nz/newspapers/WPRESS19330125.2.13
Bibliographic details
Waipukurau Press, Volume XXVIII, Issue 28, 25 January 1933, Page 3
Word Count
145HIGHER EXCHANGE Waipukurau Press, Volume XXVIII, Issue 28, 25 January 1933, Page 3
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